The National Bank of Cambodia (NBC) said the Kingdom’s economic growth stagnated in the first half of the year due to the impact of the COVID-19 pandemic and forecast that the country’s GDP would contract 1.9 percent this year.
Phnom Penh (VNA)ᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚ - The National Bank of Cambodia (NBC) saidthe Kingdom’s economic growth stagnated in the first half ofthe year due to the impact of the COVID-19 pandemic and forecast that the country’s GDP would contract 1.9 percent thisyear.
NBC governor CheaChanto said key pillars of Cambodia’s economy such as tourism and manufacturing were not spared the sweeping impact of thepandemic. However, he added that the agricultural sector saw slight increases while the financial sector alsoenjoyed gains.
In its Semi-Annual Report 2020 releasedon July 8, the NBC said the tourism sector was the worst affected of all major economicsectors as international arrivals took a sharp 55 percent plunge in the firsthalf of this year on a yearly basis.
🐓 The manufacturing sector also contracted 11 percentyear-on-year due to disruptions tightening basic raw material supply, the NBCsaid.
The export-oriented manufacturingindustry dipped 12.5 percent, and garments were down 10 percent. But production for thedomestic market added 13.2 percent, propped up by the rise in local consumption. Agricultural output increasedby 21.7 percent year-on-year owing to expanded cultivation area and a drop innatural disasters, the NBC said. Cambodia’s economy is expected grow negatively in 2020, at thelowest rate since 1995, according to Chanto. Cambodia will be set to makea V-shaped economic recovery next year if the novel coronavirus can becontained by the end of the year, he said./.
Cambodia’s economy is projected to expand 7 percent in 2019, lower than the rate of 7.5 percent recorded in the previous year as export moderate in line with a fall in global demand, according to the World Bank (WB)’s report.
Cambodia attracted a total of 3.84 billion USD worth of construction investment in the first half of 2020, up 13 percent from the 3.39 billion USD recorded in the same period last year.
Cambodia earned 3.7 billion USD from the export of garment products, including clothes, footwear, and travel goods –in the first half of this year, down 5 percent compared to the same period last year, according to Cambodian news agency AKP.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
In Cambodia (Photo: Internet) 
